Hi everyone, Sam here. I consider myself fortunate to have found this forum. It's just like an encyclopedia. Lots of people on board who are here with wealth of knowledge. I would surely like to tap it for my benefit. A little about me. I am based in Sydney and have some equity in my PPOR. I would like to step into the world of investing. My broker has said with the current scenario I can borrow upto 650k. I would like to invest in an area keeping in mind long term capital growth and a good rental return. Not in a hurry to dive in maybe in another 3 months or so. One question that I would like to ask is with 650K where can I invest. Is anything possible in Sydney at all. I am very much open to your valuable suggestions and opinions.. Thanks
Hey, welcome to the forum! There's lots to learn so I'd just keep reading for the next few months before doing anything. If you do you'll find that the general consensus is that Sydney is essentially done for the next year or so. It's a declining market and has crappy yields. You can still make money here but it will be hard going. Generally, people are now looking at Adelaide, Brisbane and a few brave souls are getting into Perth now too. Worth mentioning that lots of investors on here are giving property a miss all together at the moment.... But keep reading there's a million ways to skin this cat. Hopefully within here you'll find a strategy that you like.
Thanks a lot for the insight. I will take your advise and keep following this forum and when I feel ready I will look for the options
Keep learning and answer two questions: 1. What do you wish to achieve from property investing? Be specific, what do you want in $ in income, what asset base of properties do you plan to grow to, why? 2. What will be your property investment strategy? Be specific, manyyyyyyy ways to invest into property manyyyyyy places, so chose a strategy, whether against buyer markets intestate, what states, all 6 or 3 only say NSW, VIC, BRI, within what kms, wether with land component, or renovation potential......etc. 3. Continue to learn all you can, read books, have mentors, build your team (broker, accountant, lawyer/conveyancer, property manager, etc...) I am sorry but only you can decide and answer those two questions, once you answer you then need to ACT!
welcome to PC @Sammy42 great position to be in there, after the Sydney boom, you would have lots of equity in your PPOR that you could utilise to build a portfolio. in the current lending environment, you might need to plan ahead before diving in, for most ppl, the 2 critical elements: accessible equity & serviceability/borrowing power, both can run out pretty quickly. maybe first work out what your long term and short term goals are, then looking at how to utilise your current equity and serviceability to reach that goal/s quicker and more effective. for example, if you are looking at good asset for long term buy and hold, and not worrying cashflow much, Sydney might be a good place to start. however you might have to stop after the first property. if you want a balanced capital growth and cashflow portfolio, looking interstate might give you more opportunity to purchase a few more properties.
For $650K you can get a 3brm 2bath 1-2car townhouse in Quakers Hill. Prices have come off about 5-10% and there are some great opportunities.
